Ensysce Biosciences Inc saw a significant price increase of 15.00%, crossing above its 5-day SMA in pre-market trading. This movement reflects a positive sentiment in the broader market, particularly as the S&P 500 shows slight gains.
The Nasdaq-100 is down marginally, but the overall strength in the S&P 500 indicates a favorable environment for stocks like Ensysce. Investors are likely responding to the general market trends, which are supporting upward movements in various sectors.
This upward momentum could signal a potential for continued growth for Ensysce Biosciences, especially if the market maintains its strength. Investors will be watching closely for any upcoming news or developments that could further influence the stock's trajectory.
Ensysce Biosciences, Inc. is a clinical-stage pharmaceutical company. The Company develops solutions for severe pain relief while reducing the potential for opioid misuse, abuse, and overdose. Its pipeline includes two new drug platforms: an abuse-resistant opioid prodrug technology, the Trypsin Activated Abuse Protection (TAAP) platform, and an over-dose protection opioid prodrug technology, the Multi-Pill Abuse Resistant (MPAR) platform. Its lead product, PF614, is a TAAP extended-release oxycodone and a potential analgesic to treat severe pain. Its second product, PF614-MPAR, is to treat severe pain with the added benefit of oral overdose protection, is a combination product of the TAAP prodrug PF614 with a trypsin inhibitor. Additionally, nafamostat, which is an ingredient in its overdose protection combination products, is also being developed for the intended purpose of treating infection and pulmonary lung diseases.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
